meeting the minds of people. stuart: that is it. time is up. dagen and connell, it is yours. dagen: i am dagen mcdowell. connell: and i am connell mcshane. it is not just our problem. there is a threat of a global recession. dagen: one top money man says the president's legacy is on the line. connell: is that a fact worth taking? why jamie dimon is now being floated as a possible treasury secretary. home prices keep climbing. your professor will tell us if that streak can continue. connell: at the top of the hour, stocks now. good morning. it is nicole petallides on the

floor of the new york stock exchange. nicole: good morning, dagen and connell. a big piece of news here. this is obviously a big deal. ninety dollars a share. you can see how the stocks are faring. this will create the second largest package food company. you can see the upside. conagra is up about 4% there. obviously, big news on that. the dow today down 41 points. he regained 3.3%. today we have come under pressure. the s&p and nasdaq also down. there is a loss of about 40 points.

yesterday we lost about 42 points. short-term pullback is pulled back. dagen: thank you. if congress is unable to prevent the fiscal cliff, our lawmakers could send the entire world economy into a recession. steve moore is here, senior economics writer at the "wall street journal." he joins us now from washington, d.c. will they prevent it, steve? >> the good news is, no one should ever listen to what they say. but, you know, these go sheesh and keep rolling on. my sources on capitol hill say that there is still a lot of gridlock there. the main thing, in my opinion, can they reach a deal on these taxes that does not require all

of the requirements of business to go up? dagen: do think that happened, because again, there are so many taxes that we need to worry about, the lawmakers never fixed it for 2012. if they do not fix that, it will hit 33 million americans. the payroll tax cut. will that go away, because, again, it was temporary ones, temporary twice and it will still be a higher tax. >> im so glad you brought up the amt. nobody has really been focusing on this. that would be bigger than even extending the bush tax cuts. you are talking about $2 trillion in additional taxes on americans over the next decade if we do not fix this thing. of course, it is because they have not indexed this for

inflation. it reverts to the level it was in 1993 where the level would only be about $45,000. think about this. when you mention those 30 million americans, those are rich people. those are people earning 100-150,000 dollars. they will let the payroll tax rise back to where it was before they temporarily suspended it. dagen: do you think, though, bottom line, we will get higher tax rates on wealthier americans? >> it really depends on the president. the republicans have put a pretty fair deal on the table. they are willing to put a cap on deductions. a lot of conservatives are not happy with that idea. if the president want to go to the man and say i insist those

rates go up, then i am not sure if we get a deal. under that scenario, i think we go into 2013 without a deal and we do fall off the fiscal cliff, at least temporarily. dagen: steve, great to see you. take care. connell: some breaking news before we get back to all of this fiscal cliff top. some news breaking from our very own charlii gasparino. steve cohen is stopping the outflow of funds. they are going to hold a call today. this will take place this morning. they will hold a call with

investors, according to charlie gasparino. charlie, himself, will have more on this throughout the day on fox business. back to the cliff. with the president's legacy at risk, our next guest is here to talk about a compromise. i do not believe you agree with steve moore. are you putting your money where your mouth is? >> i do not agree with steve. i have lived inside the beltway for quite a long time. president obama got beaten up pretty good in the debates. it looks to me that he will be more flexible. when push comes to shop, he will be more flexible. he wants to leave a legacy of the greatest president of all time.

connell: steve moore making the case a moment ago that we will go over the cliff for a few weeks, a few months, whatever it may be. you make a bet that he does a deal before the end of the year because he is worried about his legacy. are you sure enough about it to bet on something in the markets? >> well, yeah. absolutely. i think he made it on the intraday low at 1343. i think that holds up at year end. i just got back from europe. everyone over there is bearish and underinvested. i think if the market does not fall apart right here, i think they will be forced to chase in the santa claus rally. connell: it is that time of year again. going over the cliff, however, you assign some probability to that. first, tell us about that. how will the market react to

that? would that really happened or what the market kind of look down the road and say they will figure this out eventually even if we are technically over the "with"? >> if we go over the cliff it will just be for a few days. 55 million are for the wealthy, 210 million are from the middle class. i think you could see a staged agreement with more resolution coming in the first quarter of next year. connell: right. they will not have the time to have the whole thing figured out, but at least set the parameters. jeff, as always, it is great to see you. thank you for coming on.

>> pleasure. dagen: words that you do not often here to gather. good news for research in motion. the company's stock has gained 46% in a 30 day rally. after some optimistic reports about it next generation of the blackberry. bullishness on the stock. of course, apple and google's android have been crocheting the company. research in motion say it will make it a new competitor. looking at the last 52 weeks, here is the story. ram down 27%, google of 12%, apple up 57%. that math still tells the real story. connell: that tells what is really going on.

jamie dimon as the next treasury secretary. apparently, warren buffett liked the idea. we will talk about that coming up. dagen: the newest reading on home prices. we see promise. six straight month of gains. jo professor will have his report on whether the housing market can continue. the price of oil going down. ♪ but when i was in an accident... i was worried the health care system spoke a language all its own

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dagen: breaking news to bring you. take a live look at these pictures. cairo, egypt. thousands of people chanting. morsi, the president of that country, recently the stowed absolute powers among himself. about 60,000 people in the square. numbers reportedly growing. those pictures speaking for themselves. connell: day five out of those protests. right now, let's make you a little money. charles payne.

dagen: what do you got? charles: i am driving down 151st street, a gigantic line of people all the way down the block. they were at the house of hoops. this is the most amazing sneaker store you have ever seen in your life. it turns out, footlocker owns it. this morning, goldman sachs put a pot on footlocker. i just wanted to reiterate it, they also have a woman's sneaker store. connell: whatever the newest sneaker was, i think it faded for a while, but now it is back. charles: my son is not into sports, but he knows these sneakers. when the new ones come out, he

will let me know. just five minutes ago they were sold out on ebay. first of all, i am not going to get you these sneakers, your grades are not good enough and they cost too much. i do not know what it is not much higher. goldman is behind them today. connell: all right, charles. dagen: thumbs up, baby. connell: let's go back to nicole petallides. nicole: i concur. the sneakers are hot, indeed. let's talk about dollar general. those 500 names that are the members of that index. what happens is money managers have to copy the index and then they bought all of these components. dollar general going into the s&p 500. they are replacing cooper industries. dollar general is already higher

just on the idea that it is on its way into the s&p 500. let's take a look at the broader markets. we still have down arrows. we saw the dow jones industrials moved into the green at about 10:00 a.m. the dow is down 33 points. the tech heavy nasdaq down just to. back to you. dagen: could jamie dimon be the man that the president needs running the treasury department? who says yes? warren buffett. connell: giving out big bucks to try to avoid the tax man. the latest on that story as as we continue on markets now. ♪ twins. i didn't see em coming.

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>> at 21 minutes past the hour, i have your fox news minute. senators say they would not support a nomination for susan

rice until questions on the u.s. consulate in libya are resolved. rice wrapped up her meeting with the three over her initial comment about the attack. pictures from egypt as opponents of president mohammed morsi continue to clash. they are railing against morsi that gives them absolute power. one person was killed after inhaling teal -- tear gas. it was quite a scene at the empire state building. the light feature more than 16 million colors. those are your news headlines on fox business network. back to connell. connell: thank you very much. it is not to jamie dimon and idea that he may be the next

treasury secretary. that is well warren buffett seems to be hoping for. here is a quote from buffett. if we did run into problems and markets, i think, he would actually be the best person you could have in the job. world leaders would have confidence in him. i do not think anyone asked me about this. i think it is highly unlikely. what do you think? >> i think warren buffet is truly one of the great minds of our century. he is a wonderful god. i think he kind of drove the republicans crazy with the buffett tax on millionaires. i think this would drive most democrats crazy. i do not think it would have been. connell: i am just talking purely about politics. the idea of nominating a wall street present in this

environment, that would not be the best politics, would it? >> it would not be good government policy either. i think especially jamie dimon. he has kind of became a poster child of what most democrats in washington think is the wrong way the government handles wall street. he came with his fortress bank, jpmorgan chase and earlier this year said we should get off the fingers and then we have the london whale situation. i think that demonstrates his bank is much too big for even him to manage. connell: by the way, we have talked about this in the past, the idea of a second obama administration with wall street, when i say we have talked about it in the past, i think we have had you on to talk about the libor scandal and dodd-frank and other things that have come up in the past few years, will it be a more aggressive obama

administration or he will be friendlier towards wall street? >> i do not think, one of the big decisions will be who they pick for treasury secretary. i do not think there will be any color you know, get even with wall street. i think the president -- one of the earlier commentators said he is looking down the road for his legacy. in a good sense. i just think it will be different than the way bush and paulson dealt with it and even the way geithner dealt with it. connell: let me end with this, you ruled out jamie diving. who do you think he will pick? >> i do not know. it could be jack lu. there are lots of different

people. i think they want to work with wall street. i think they realized that is an important piece of dealing with the fact we are still in this incredible financial crisis. connell: as always, thank you for coming on. >> thank you, connell. dagen: yale professor, bob shiller is standing by. six straight month of gains. is a recovery in? connell: companies and investors trying to beat the tax man. get it in now and we will tell you what is going on there. we will tell you some of the winners on the s&p 500. market down and the stocks are up. ♪

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connell: we have the newest numbers on housing today. you may think that he is a pessimistic professor. does robert shiller think that housing has finally turned the corner? we are about to find out. the regulations that have wall street regulators concerned and beating the tax man. december dividend payout and the new holiday treat for investors. it is all coming up. dagen: when connell looks at me, it gives me the creeps, by the way. stocks now and every 15 minutes. nicole: i want to take a look at corning. they make a whole bunch of

things. the tablets and smart phones. we will take a look at it. it is doing really well today. they are talking about gorilla glass. revenues will reach $1 billion. here is a look at the stock. it is up 7.5%. it has been accelerating on this better than expected demand for that glass. also wanting to take a look at the major market averages. they are all coming under some pressure. hewlett-packard, american express, microsoft, at&t and home depot, those are some names that have been weighing on them. however, we are certainly not erasing that great week that we saw last week where the dow gained over 420 points. back to you. connell: some breaking news. the european markets closing just a minute or two ago. they had some enthusiasm they

are as global lenders reduced the debt. then they turned their attention over here to the u.s. and the debt situation and the lack of movement we have seen on fiscal cliff negotiations and washington. all of the highs, certainly. dagen: from stocks to housing right here at home. gaining 3% year over year in the month of september they came in a little bit above expectations. six straight months of good news on that index. bob shiller is here. can this continue in a straight line? >> a straight line, up at 3% a year. that is pretty good, reasonable forecast. it sounds like a reasonable

@orecast. that is not much above inflation, but it is an increase dagen: have people's expectations of home prices and improved? heavy seemed evidence of that? >> we do a question of surveys and homebuyers. our last survey it was in june. we did see a whole lot of improvement in expectations. i am a little puzzled. part of what is happening is foreclosures are falling behind us. the index looks better because there are not as many foreclosures. dagen: is so much of it related to interest rates, bob? >> interest rates are at historic lows. that certainly is a factor. i think people have gotten kind of trigger happy with some people thinking that this may be the beginning of another bill. in certain cities like phoenix,

i think that is a factor. dagen: what other markets look frosty to you besides phoenix? >> san diego and san francisco have been hot. once people get the speculative -- they did not necessarily forget it. dagen: how is it possible that home prices peak in july of 2006 and, you know, more than six years into a correction. it does not seem like a distant memory in terms of the frenzy that people got into. how is it possible that people did not learn lessons just a few years ago about the danger of being overleveraged and inflated property? >> i think people have learned something. they have learned that home prices can and do fall.

the idea, the reality that it could actually fall right now does not impress people. people think, i do not know why, it seems to be the psychology that i am hearing that modest increases are almost insured. i think it is more uncertain than people realize. there is a lot of uncertainty out there. while i think it will probably go off at a modest pace, there is a real possibility, still, i believe, of the client. dagen: finally, stocks or houses >> of more like 7%. i think the stock market. the housing market.

it is all uncertain, though. anything like this is uncertain. dagen: thank you, i think, bob. you did not make me feel better. [ laughter ] >> it is all positive numbers. dagen: buying a home is great if you only have to put 3.5% down. if the house goes underwater, it is the government's problem, not mine. you might as well do it. yes. connell: we are all in this together. this idea of beating washington to the punch. companies are paying out dividends before the end of the year to try to beat the tax man. dagen: apple's iphone, siri, you will hear her and some cars. connell: treasuries, 1.66%.

that is that you today on a ten year treasury. we will be right back. ♪

>> hi, everyone. i have your fox business brief. consumer confidence has climbed to a new year high. the conference november reading came in better than expected at 73.7, its highest reading since

february 2008. people here in the state may have a rosy outlook. only cdc says the global economy is facing a heavy and uneven recovery over the next couple of years. the post office operation santa is in its 100th year. more than 1 million letters are expected. that is the latest from the fox business network. giving you the power to prosper. ♪ ♪

♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going onow -- but hurry, the offer ends soon. connell: i am seeing a lot of this. a special dividend. more of the companies try to get set for the end of the year. dagen: robert gray joins us for more. >> one of the issues on hand.

15% as things stand right now with no fiscal cliff change and adjustment, we will see them go up to 43.4% in the new year. you are seeing companies get ahead of it. let's look at some of the reasons. they are trying to get them out before year end. there is a tax uncertainty. companies that generally have a healthy balance sheet. we should watch for more announcements. as for why brown-forman did it, the company chose to make this payment because of the uncertainties surrounding future dividend tax rates. very simply put. apple capital capacity to make long-term investments. some people think they should be using that for other purposes. you see lots of green across the board.

las vegas sands also raising their dividend beginning in the new year. dillards paying a five dollar a share special. they paid in january for at least a decade. that will save their shareholders a lot of cash. five evident payments and one calendar year. john snyder tells me he is not enticed by these. he prefers companies that build over a long period of time. like walmart. he did applaud walmart. he called it a poster child for paying its dividend earlier. he was happy about it. we know he tracks these things very closely. expect more announcements in the next two weeks. back to you. dagen: thank you so much, robert.

3.8% is because of the healthcare law. do not forget that. parts of new york and new jersey still reeling from the aftermath of hurricane sandy which struck julie a month ago. the latest estimates show sandy caused over $70 billion. the storm stands second behind hurricane katrina. if you hate parting with your iphone while parting, general it will be the first carmaker to integrate with the siri mode. allowing drivers to continue chatting with siri while keeping both hands on the wheel. the spark and sonic will be the first two models. they will roll off assembly lines early next year.

buy those tickets, people, buy those tickets. if you do not play, you cannot win. it stands at a record $425 billion. the biggest pot on record is 365 again won by eight nebraska coworkers want in 2006. your odds are about one in 175 million. are you going to give it a shot? connell: no. dagen: scratch tickets in the stocking along with a new pistol, i hope. connell: with that, we go to medical fact -- nicole petallides. nicole: we talk about holidays, retail, cyber monday. citigroup has a very intense

survey looking at all of the retailers and what they provide on cyber monday. the websites, well, the five winners, the top two were jcpenney and kohl's. other names that ranked in the top five would be macy's, which includes bloomingdale's, cbs and walmart. that is interesting. how about we look at acadia. it is a stock that is soaring today. it is an especially small company. the headline is an interesting one. this is about a drug that they have for parkinson disease. that trial has gone very well.

they have met the primary goals. they are looking at secondary goals. look at the stock. 150% move to the upside. back to you. connell: thank you. dagen: the threat of new regulations from the epa. a major concern for business. it is not one new regulation, it is many regulations and rules. they are a tough epa. former epa administrator is here. connell: some of the winners that we are seeing today over at the nasdaq. yahoo! is up. we will be right back. ♪

dagen: right now, senator, presenting a petition urging congress to prevent the epa from the imposing what they call harsh rules on air quality and carbon emission. connell: our next guest should have an opinion on this. she is a former epa administrator, also the former governor of the state of new jersey. good to see you. thank you, as always, for coming in. what do you make of all of this? >> the thing that congress conveniently forgets is they set it up and they wrote the rules that requires the agency to act at current times. the agency can clearly over interpret their mandate. connell: have they? >> at times. absolutely. at other times they were established because we were seeing real negative economic impacts from that air quality,

poor health and pollution. you have to be careful. dagen: the concerns from businesses far and wide, one, the ozone air quality and what that will do two new power plants, what that will do to coal power plants. rules on fracking, the exploration for natural gas. adding inspections, request for proposal, you name it, there is a myriad of concerns about what the epa will do and is doing now? >> there always has been. every time you begin to start the process of a regulation, you start to get the lawyers and end up in court. you have to make certain decisions within certain time

frames. then they are legal decisions or they are agreements that the agency has come to. connell: i also think they are driven by, and you hit on this in your first answer, they are driven by profit and loss. at least on the corporate side of it. obviously, business will come in and say, no, this is raising our cost. >> i keep hearing that all of our economic woes are due to the environmental protection agency. they were brand-new to everybody. it is finding that balance where you are protecting public health and the environment, but you are not stopping the economy from growing. it overreaches. it goes and establishes regulations for which there are no technologies to meet.

you have to find your midway point. connell: that is not economically feasible. dagen: that is the concern about the obama administration epa. it will not only cost businesses more money and hurt our economy that way, but ultimately it will cost the american people more money. >> there definitely is the potential for costing or money. the thing you have to work against is how much money you lose down the line if you do not make some of these steps that could help prevent some of the other things happening after that that health and premature death and asthma and all those things that also cost our economy and society. connell: you have to deal with post- 9/11 and all those things. you do think that the current administration has overstepped its bounds or they are handling it right? >> they backed up everything

right before the election. they held a lot of those back. i have not looked at all of the rules so i cannot tell you about all of them. i can tell you that i think some of them are pushing the envelope. sometimes they push the envelope because that is moving technology forward. i always have a skepticism when there is an immediate, no, no, you cannot possibly do this. if you sit down with the people and that is what i think they have not done is bring everybody to the table and sit down and say how do we reach this goal. understand where we are coming from. how do we do this together so you can pick to continue to create jobs. dagen: thank you. connell: the least respected companies turning out to be some of the biggest gainers we have seen here in the last couple months. dagen: loving a loser. that does not describe sandra smith.

sandra: take a look at the nasdaq. the tech heavy nasdaq just barely in negative territory. research in motion, the maker of the blackberry, everyone is questioning about whether or not this company would survive. it had a huge run-up yesterday. take a look at this stock in 2012. let me get out the pencil. this is a huge hook line. will the company survive, does anybody even use the blackberry anymore, then over the course of the last month, better than expected stock. the stock has gone up 53% over the past month from eight dollars a share to now over $11 a share. jeffries said that the new blackberry has a 20 to 30% chance of success. they expect to avoid the worst case scenario.

i will tease same time next hour we're are talking about facebook. everybody was skeptical. of 18% over the past month. we will talk more about that in the next hour. dagen: i thought i saw a five after that to. twenty-five. wow. on facebook. connell: it has been kind of a rough road. we have drew greenblatt. he had a big meeting with president obama. he is back. he will be talking with cheryl and dennis coming up. did he get the answers that he was looking for? dagen: tracy byrnes is coming on. she will talk about taxes. we cannot wait for that. ♪ cook what you love, and save your money. joe doesn't know it yet, but he'll wk his way up from busser to waiter to chef before opening a restaurant

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dagen: at noon eastern markets now. i am cheryl casone. dennis: diane dennis kneale. we will go inside a white house meeting with our favorite small businessmen through greeneback is back from meeting at the white house. did he get the answers he held for. cheryl: we continue our special series fiscal cliff survival kit. washington can't get it together, there are steps you can take to get your fiscal house to get a. fox business anchor tracy byrnes will be at missteps for you to take right now. dennis: he might be divided in any other line of work. he is still on 2 and 1/2 men after calling it fills the. gerri: job security coming up later in the hour. stocks every 15 minutes, nicole petallides. you have a lot every 15 minutes. let's begin. nicole: let's look at what is going on with the dow here. is nowhere near the 14,000 mark when we launched the network but

we are at 13,000, not too far off of that level, the dow is down 3 to -- two points. you see the nasdaq and the sp have moved into the green slightly, talking about 0.1%, means there helping things along with names like intel and coca-cola and alcoa the names that have been pressuring the dow, hewlett-packard, american express, microsoft. big picture we're doing all right, yesterday lost 40 points so we're pretty much flat for today, talking about a week deal here, when you look at the equity residential and talking about archesteban but the company meeting every residential, smart to bring apple online in order to do this and make it more manageable and it's great portfolio mix. a brief deal with looking at, it is up 3% and avalon up 3.5%. back to you. dennis: after joining us on

markets now, drew greeneblack when on for a meeting with other small business leaders and he is back to tell us how that meeting went. thanks for being with us. you are ready to meet with the president himself to tell him don't raise taxes at all. it will hurt small business hiring. tell us what happened next. >> at a meeting was three hours long in the white house. the had several advisers of the president present, one of them being valerie jetblue edge stuart: where was the president himself? >> the president did not join us. revisited with larger companies like walmart a couple weeks ago. i was hoping he was going to visit with us. it is important because small-businesses said a big job creators and our country. big businesses won't created huge amount of jobs. small-businesses will create those rush of jobs we need to end this recession. dennis: didn't get a chance to talk to the president directed, valerie deron shows the. was in the mood to listen or

preach? >> he discussed with us that you wants to get a deal done, she went -- the president wants to get a deal done and they hope they can get a middle-class tax cuts enacted right away excess. and she felt confident a deal could be had. there were six big take aways from the meeting. there were many different smart business people throughout the nation and six themes emerged. one was a sense of urgency. they wanted the government to come together and get a deal done. no more kicking the can down the road. let end the uncertainty and get a deal done and make something big happen and make it happen fast and not wait months and months, get it done right away. the second big takeaway was people wanted some growth in the mix, didn't want to be all bad medicine blue just dennis: what happened to the plan, cutting corporate taxes? did that come up in the meeting

yesterday? >> no. there was some chatter about cutting corporate taxes and i mentioned to the chief of staff that most americans factories are organized as small businesses. 70% of factories are organized as small businesses so when you raise the top rates you are impacting factories. that is a tax for factories. so that needs to be -- that circle needs to be clooed. ashley: dennis: isn't this white house going to raise taxes on business, which you are against no matter what? >> the medical device tax, there is chatter, such push back on that topic because it creates health in our country and jobs. that might be reconsidered and they said they would bring that up to the highest echelons of government. the capital gains tax, there's a tremendous amount of pushed back because a lot of venture

capitalists, lot of investors count on an or corporate can't_- bread gains tax to invest in the startups which are feeding jobs in this country. dennis: despite warren buffett's stock and at that notion in his new york, and saw that yesterday. what about a 3.8% tax on medical equipment? let us show the drug makers, pharmaceuticals went along with the white house and agreed to spend $100 million of corporate money on advertising obamacare and medical equipment at no organization, didn't play along and they gets washed with a 3.8% tax not on their profits, on their revenue. the ceo of a medical company maker will wipe out her profits, a horrible thing. can we get that lifted? >> there was a huge push back in this meeting for that because people said it's finally making 1% or 2% profit you are immediately putting the underwater, the market doesn't want us to raise prices. it wants us to cut prices.

this is a bad time to have a 3% surcharge. ashley: dennis: they can't make the stuffing china office, imaging equipment, where they can in the u.s.. president obama is apparently meeting in person with small-business leaders today. what do you want them to tell him if he is in a mood to listen? >> the of to make our country competitive. they have to reconsider how job creators fund their companies. they fund it by having a war chest of cash and if it is depleted by higher taxes they can't hire more people, they can't buy more equipment, can't come up with new innovation. is imperative that we keep reinvesting and hiring people. this is how america will get out of the recession. [talking over each other] >> we thank you for being with us. congratulations on your visit to the white house.

cheryl: in the last few moments we did see the dow turn positive and once again going into negative territory. all of this as worried about the fiscal cliff and europe. our next guest says if there's not a fiscal cliff solution we may get a replay of 2009. this happen to the market in 2009. remember this? james lebenthol, president of asset management joins me now i use a markets if we don't get a deal, where the chances we don't have one? market could jump 5% to 10%. >> this is easily the comparison that can be made and the is reminiscent of when t.a.r.p. was first turned down in fall of 2008 and the markets fell lot of bed and a few days later we talked about at the time, congress enacted. it is something fax palatka any political will to come together and solve this will really dramatically impact -- cheryl: yet something about the markets for 2013 that is disconcerting, you're talking

the second half of 2013. markets won't come that because of other issues, flat profits from corporations across this country, without the earnings, doesn't look right. >> let's pick up on that. the third quarter one of the things we saw quite a bit of was flat revenue growth and there's nothing to indicate going forward into the fourth quarter or the first quarter of next year that revenue is going to pick up self if profits going to grow the only way is for margins to expand that margins are at a really extremely high level right now so it is unlikely for that to happen. put this together and you have uncertainty in corporate board rooms keeping a lid on any sort of investment that would get aggregatt demand and revenue growth going so we see flat profit growth for the next six months or so. the good news is underneath all this there are the animal spirits trying to get this economy going again. labor markets of picking up, housing is picking up and if you get through the political drama

we are in -- cheryl: we are seeing investor fear and it is warranted. you have high network clients coming into your office saying to you what we going to do? how are we going to rebalance the for the end of the year? i don't see any good will coming out of washington. if anything it is the opposite. >> amazingly so because i am scratching my head on what is to be gained by brinksmanship to the last minute but putting that aside your point about what clients should be doing, what we have advised is in the risk portion of their portfolio, the stock portion of the portfolio, we have 15% to 20% tax on the sideline. we do see opportunities that we are ready to put that money to work at a moment's notice but frankly we are not going to do it while taking a gamble which is what it is on whether the fiscal cliff will be at all. gerri: also looking at commodity space and natural gas u.s. seeing opportunity no matter what happens.

gas up 24% this year. where are the boshs? >> natural gas is not just a commodity but where we see the value. it got hammered earlier this year down $3 a share. when a lot of producers in the u.s. shutdown their rigs and shut in their wells, we're seeing a supply on the margins will lower, demand a little higher and prices are coming back $3.75. we see the pendulum continuing to swing $4.50. crude-oil down at the same time which helps profitability of exploration, we see opportunity in royalty trust like the san juan basin royalty trust-- [talking over each other] >> that is where the value lies. and he should be buying it when it is up 4.3% and the value

investor. there is definitely opportunity there as natural gas prices climb back up 20%. you could see the same price action in the shares of san juan basin royalty trust and lastly look for the beaten down stocks. there is an exploration and production company with a lot of gas potential call newfield exploration trading below book value. cheryl: thank you. we all hope he is wrong. dennis: if stocks are up i am buying. this economy, shop till you drop early, holiday sales, breaking all records. are we in for disappointment closer to christmas? cheryl: critics of tougher regulations for the oil and gas industry save the epa has been given too much power. when he have a live report from washington. dennis: let's look at prices still below 100. twins. i didn't see them coming.

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cheryl: it is 15 past the hour. stocks every 15 minutes. you are watching dollar general. cheryl: in moved to the upside, money managers, what they do is duplicate major indices. they buy up the names, members of the s&p 500. two exactly mimic that index.

dollar general going into the s&p 500. we see it off of its earlier highs up 1%. cooper industries on its way out after an acquisition so this is what we're looking at for dollar general up $0.49. the dow and the nasdaq and the s&p, absent thee and attack any nasdaq still doing well, hold onto some green arrows. dow jones industrials, the dow is down eight points and the dollar, u.s. dollar is stronger so that puts a little pressure on. dennis: charles, you have a stop in hollywood media. charles: hollywood, and open taxes is the name of the company. business process information management, an interesting company, was actually created at the university of waterloo, wanted to digitize the oxford english dictionary and a long way they figured out these

things, created so many things, and enterprise information management co. they made a bunch of acquisitions, the largest player in their particular niche, grow like crazy, third quarter revenues of 27%, a quarter over quarter, to give an example how well they're doing you never hear good news out of europe. 23% of revenue, 16% in expenses, it is only 10% with one ratio. [talking over each other] charles: a lot of these companies that benefiting from the hewlett-packard autonomy scandal, going out and stealing autonomy and customers though that might be helping these guys break out 50. dennis: sounds like an acquisition ready to happen. thank you very much. oil and gold taking a dive but fighting for gains right now. phil flynn of price futures group, fox business contributors standing by the pits of the cme.

phil: gold traders were ready for the risk on trade this morning and thought balance gold, going -- retail was a little bit murky so people were hesitant to drive the oil higher. and especially consider confidence. that is the straw that broke gold's back and consumer confidence, dollar rally and let's look at oil. oil did the same thing. oil is influenced by the auction exploration today on a product. you are seeing a lot of volatility already. this situation when the dollar took off, oil came tumbling down. there are signs we are coming back up. cheryl: critics of tougher regulations calling for action against what they call overly harsh rules on air quality and combinations. a lot of this centers around the

epa. in all of this do you think the epa is getting the brunt of the blame for this campaign? >> today it is. a conservative group, the heartland institute presented one of the senate's leading critics of the epa with 16,000 petitions today, demand that congress, quote, rain in a rogue agency, the epa, cut its power, staff and funding. senator james inhowff charges the obama administration slowed and delayed numerous regulations this year to help the president's reelection campaign from greenhouse gas regulations to water and ozone standards. now he says the agency will flood the nation with costly new rules. >> it is significant as costly as these are, they pale in comparison to the cost of the greenhouse gas regulation. i can't even stand here as much time is spent on this subject and tell you how much this would

cost. dennis: asking the white house for comment have not gotten a response but it has said it seeks to balance economic and environmental considerations when deciding what regulations to issue. cheryl: cost control is the next step. dennis: is up again. >> thousands flocking to carrier square to protest against egypt's president's new powers. [talking over each other] dennis: and to the u.s. dollar. before copd...

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cheryl: welcome back to fox business. i am patti brown with your fox news minute. the remains of the late palestinian leader she after arafat have been exhumed as part of an investigation to determine whether he was poisoned. french judges of the murder inquiry into his death in august after a swiss institute says that rivals of radioactive

polonium on his clothing. a commission set up by the pennsylvania legislature in the wake of jerry sandusky sex abuse trial says sweeping changes are needed. the station change all these abuses are handled and crimes are investigated. the roller-coaster swept off of appear in new jersey during superstorm sandy will not stay put in the ocean. this town's mayor says officials are in talks to remove what remains of the ride after last week's saying leaving it in the water might be a great tourist attraction. that is your fox news minute. cheryl: new jersey history. thank you very much. speaking of sandy's after mcenery your governor andrew cuomo making a plea for a government funds saying economic impact could cost the state $42 billion. lloyd's of london is the world's largest specialty insurance market and hurricane sandy after that hurricane warning not just the u.s. but all of the world

countries are underinsured for natural disasters. richard ward is ceo of lloyd's of london joining us from london. the u.s. and canada your biggest market by 43% of businesses that use a we are not prepared enough. what can we do? >> we could be more prepared. we have had more catastrophes in recent years, we had superstorm sandy in the u.s. but last year if we look what happened in the far east with the tsunami and the earthquake in japan and in new zealand, floods in thailand, the world has been experiencing natural catastrophes. when we look at the cost of damage caused by these catastrophes a lot of the cost picked up by government and the insurance industry to deal with managing those risks. cheryl: so u.s. focused as you are, the first half of 2012 because of lack of natural disasters and numbers were

fairly good, what we looking at for the second half of 2012? >> in the second half we had superstorm sandy and a lot of work to be done to assess the true cost of superstorm sandy. the best estimates at the moment for the costs to the insurance industry, not the economic costs but costs to the insurance industry between $15 billion and $25 billion, superstorm sandy on par with hurricane ike. cheryl: what does it mean for lloyd's? >> we will pick up a proportion of that, anything between 5%, and 10% of these storms when they hit the u.s. but at this stage without a clear understanding of the number it is difficult to say what it is, working with syndicates in lloyd's market to come up with an estimate they hope we will have by the end of the year. cheryl: one thing we talk about

on the east coast is constructing coastal flood barriers. is that something you support? >> couldn't hear the question that clearly, but we are very in keener to see government spend on flood protection in coastal defense because in first and foremost we don't want properties to flood. better not have the flood in the first place but it does flood than insurance will help. government do need to invest in defense, to prevent it happening in the first place. gerri: you call a coastal floods, i love the english, richard warren, thank you, good to have you on the show. thank you. >> i love when executive tells me i'm underinsured. cheryl: not using proper english. dennis: consumer confidence for november at its highest level in years. we ask can we suutain it? cheryl: let's get fiscal on our

fiscal cliff survival kit. who else but tracy byrnes with what you need to know and what you can do right now. dennis: a look at the day's winners on the s&p.

cheryl. >> nicole petallides lived at the new york stock exchange every 15 minutes. we have you covered. things on the move and looking at according they may correlate glass with the outlet day shall look better than expected. used with this barbosa tablets. they see more demanded usual

steve mad and is down nokia other stocks with the companies issuing dividend dividend -- dividend early to avoid the fiscal cliff part of back to you. >> with those higher dividend tax is. consumer confidence for november at the highest level since every 2008. just-in-time for the holiday is. will it continue? and joining us now is mark, we will stoke the fiscal cliff phobia but they just bought 30% more on cyber monday than one year-ago. >> consumers have tune it out. we always go to the brink and nothing happens. but what is happening with

the job market? it is improving a little bit gas prices? they're coming down. the housing market is reviving. what matters most moves in the right direction. dennis: even in the unemployment so these loopholes points making a difference. consumer confidence went up higher than expected but it needs to go higher? >> the highest in five years but it has not been great. it has been lousy. you'd like to see the consumer confidence between 90 -- 110. that is consistent with a normal economy. dennis: it has been down so

long it looks up. what about durable-goods? but some expected a decline. 1.7% increase was best since may? >> better than expected when you strip out the transportation sector. it reconciles the data what is more likely to be happening. capital equipment orders we don't see manufacturers cutting back, companies in general are much more concerned about the fiscal cliffs and consumers. let people should be encouraged with taxes to get new equipment we may seek higher shipments to the end of the year.

dennis: maybe businesses are really consumers with hope on the horizon. thank you mark bit better. >> good to be with you. cheryl: this situation in cairo is deteriorating. to rear square filling up with protesters angry over the power grab of president morsi ashley webster reported extensively last year. >> this looks familiar. of thousands upon thousands hunkered down in the middle of cairo. this has taken the u.s. by surprise. president morsi gaming -- came into power in june last week he came out with the decree and preventing court challenges to any decision. another dictator in the making.

he has backed off of those but at the heart of this is a new system of government it could do constitution islam list versus the non islamist in the future of egypt. protesters say it is a power grab by the muslim brotherhood he is a modern-day varo this is a modern-day varo this is why people are upset because after barack they thought that would bring democracy. cheryl: i bet they were pushing back but he is still fighting. >> he backs down a little bit but it is make. only on decisions of sovereign importance mean snow and challenges. what does that mean? the states that have supported the arab spring has left them in a difficult position.

n steve nine pushes for the dictatorship. cheryl: they're asking for aid from the imf. dennis: fiscal cliffs a survival kit. get your own house in order. tracy byrnes is up next with what you can do right now. what you can do right now. but first, the 10 year treasury. li positing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today

and discover another reason serious investors are choosingidelity. well, having aon of locations doesn't hurt. and a san to boot! [ chuckle] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >> i am robert gray with your fox business brief. amazon raising $3 billion with the first offering. it will use for general corporate purposes purchasing a new recorders over $1 billion.

they made cash dividend of $4 per share on top of the 9.3% boost to the company's regular quarterly payout. they pay the special dividend when this year because of future tax rates. >> more people fell behind on the idled payment. the uptick was due to seasonal factors such as back-to-school shopping.

cheryl: breaking news director power balked at -- jackpot hasn't teaches increased again now five ended billion-dollar is this is the highest ever it has been he said he will buy the ticket today. >> awaiting for nobody days

for the democrats is a nobody deserves to earn that >> think of the taxes. washington could use it. that is not a good way to make your financial plans. fiscal cliffs survival kit we are designed with part to the tracy byrnes has service device. you can do this now? >> very few things that we know. what we do know is the tax on investment income is coming. talking about capital gains. nobody should make a decision based on taxes but if you think you may be the many consider selling ads before the end of the year. barely pull your losses into the end of the year but don't do that.

way to a few key and and plush of the loss is often because you probably will see a higher capital gains rate. cheryl: what about the 401(k)? legally make some much money will of 401(k) will be messed with? >> i cannot understand how that is politically correct. like the amt 33 billion people are affected by that alternative minimum tax. i will handed my citizenship because monkeys run the joint. they will fix it. i really believe they will not bother these but maybe charitable deductions. so be inclined before the end of the year. also the mortgage interest deduction. make that extra payment to

take the deduction now. dennis: apple has a big stock gained and it has been down twice as much some people are selling to pay the lower rate. >> a lot of people are selling and a very nervous. you should not make a long-term decision based on a short-term mess. they will come to some agreement. it will not go through the roof of less of a does not stepped up. cheryl: went with the mortgage interest deduction that was a sacred cow now all that is a lot of conversation will that hurt the housing market? >> people have said yes and no. they look for that deduction when they buy a house but i did not by the house for the

deduction. i wanted for a safe place. that does not need to be tampered but i would not be surprised if there are limitations. dennis: do you think taxes are going up on over 250,000? >> i made a few phone calls i would like to see half a million dollars or higher. people like us as a citizen as opposed to a reporter where are our leaders? to another $50,000 gets you nowhere fast. >> even warren buffett says. cheryl: depending on where you live we deal with middle-class americans broke talk about the estate tax. doable for december? -- do it before december?

>> call your state planner. be proactive. cheryl: 51 to leave something do it before the end of the year? >> any plans to give money away do with this year. some things you can control. dennis: not ending our life early. [laughter] what do i know? [laughter] cheryl: coming up tomorrow fox business anchor gerri willis will have more on what you need to do to get your house in order printout down 11 points. 12,955. >> breaking news. looking at the market's dow jones industrial average in the red down 12 points ann

the s&p are also higher. the looking at the stock on the move looking at crocs they are up 7.5% it is rated at dubai at goldman sachs sachs -- a buy from goldman sachs looking at the entire group and locker they like those names. i showed you steve mad and they put a sell rating on that. of the they talk about visibility for earnings of the near-term with the crocs and that could be a near-term cattle list. that is why it has a nice big job. cheryl: time for the west coast minute the housing market getting a boost from

china chinese buyers are grabbing holmes a california and nevada by foreclosed homes but some are luxury residences. chinese buyers accounted for 74 billion the sheer the second largest foreign buyer of loathsome the country. the mexico plan from the peanut butter recall has been shut down. the breeding ground from seven outbreak the fda noted there was a history of violations that led to the decision and" end quote. vacation index brings good news. prices are up 1.1%. there of 20% from one year-ago. las vegas is up but they're still below the 2000 levels.

he would be fired with any other line of business. why is two 1/2 minstar still on the show why he called it fills? dennis: the winners and losers and how you can profit. >> we have some names moving on the nasdaq. [ male announcer ] you are a business pro. governor of getting it done. you know h to dance... with a deadline. and you...rent from national. because only national lets you choose any c in the aisle...

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cheryl: breaking news just

what the east coast did not need now getting snow falling in new york and new jersey three it is is expected a major snowstorm snowstorm -- snowstorm courtesy of right here in new york. >> is beautiful for the first 20 minutes. "two and a half men" may have a second mill down. first truly sheen but now angus t. jones he has found god and says the show was filth and he wishes he was not on it. the executive producer can take care of that. is not what our in danger been pushed out? he gets blamed wrongly for the ouster of a and currie the president complains that mr. reit threatened to drown out all those who have

praised match. mccurry and wrapper and his hilarious video with justin bieber is baby is the most acute of all time. 2.2 billion if you count the commentary and parity. cheryl: i like that dance. it is fun. the day after being sued hp is being blasted in an open matter from the former ceo. shibani joshi is following the story. >> this was he did a and now has more momentum. the ceo of autonomy says the acquisition takes a public writing a letter that just came out making strong

allegations having no details provided from last week with no further contact i am writing to ask the board for an immediate and specific explanation for the allegations h-p is making. and either documents you say you have provided so i can answer whatever is alleged instead of disclosure of not material information with the media apricot instead of squabbling over the allegations he will go directly himself this is mudslinging at its finest. these are uncovered about my college himself. aig news engineer from cambridge. started the company and used to have lavish parties

promoting growth getting him to where he was and now this is what happened. there will be more of this it will be out there for a long time to come. cheryl: more than 60,000 people filled the streets of terrier square tubing for president morsi to resign dennis: is the end for the budding democracy? melissa francii and lori rothman next. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science.

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